China waives customs on most Swiss exports
Switzerland and China have reached a new trade agreement that nearly eliminates all customs duties on Swiss exports to China, with an approval for exemptions on 99.8% of exports, including watches, medicines, and precision measurement tools. This agreement aims to deepen the trade relationship between the two countries and enhance the Swiss export market in China, which is Switzerland’s third-largest trading partner with trade volume totaling 34 billion Swiss francs last year. The agreement is expected to further boost Swiss exports entering the Chinese market, and includes improved investment conditions with guarantees for workers' rights and the environment, as well as the inclusion of human rights considerations for the first time in the free trade agreement between the two nations. The official signing of the agreement is scheduled before the end of the year, following internal approvals in both Switzerland and China.
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